Overview

* Fortrea ( FTRE ) Q3 revenue of $701.3 mln beats analyst expectations

* Adjusted EBITDA for Q3 beats estimates at $50.7 mln

Outlook

* Fortrea ( FTRE ) raises 2025 revenue guidance to $2,700 mln-$2,750 mln

* Company narrows 2025 adjusted EBITDA guidance to $175 mln-$195 mln

* Guidance assumes foreign exchange rates as of Dec 31, 2024, remain stable

Result Drivers

* REVENUE GROWTH - Q3 revenue increased to $701.3 mln from $674.9 mln in Q3 2024, indicating growth in demand

* COST SAVINGS - Cost-saving initiatives remain on track, contributing to financial performance

* STRONG DEMAND - Book-to-bill ratio of 1.13x indicates strong demand for services

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $701.30 $645.70

Revenue mln mln (8

Analysts

)

Q3 EPS -$0.17

Q3 Net -$15.90

Income mln

Q3 Beat $50.70 $47 mln

Adjusted mln (8

EBITDA Analysts

)

Q3 -$8.60

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy."

* Wall Street's median 12-month price target for Fortrea Holdings Inc ( FTRE ) is $8.50, about 14.1% below its November 4 closing price of $9.70

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)